Market Response to Lumpy Skin Disease: Evidence from Indian Dairy Stocks

Authors

DOI:

https://doi.org/10.17010/ijrcm/2025/v12i3/175892

Keywords:

event study, lumpy skin disease, dairy sector, abnormal returns, market efficiency.
JEL Classification Codes : G14, Q12, Q14
Publication Chronology: Paper Submission Date : July 1, 2025 ; Paper sent back for Revision : July 20, 2025 ; Paper Acceptance Date : August 10, 2025.

Abstract

Purpose : This study examined whether the 2022 Lumpy Skin Disease outbreak affected the stock prices of Indian dairy firms.

Design/Methodology : An event study approach was used with the market model to measure abnormal returns (AR) for four NSE-listed dairy companies over the event window.

Findings : None of the firms showed statistically significant AR or cumulative AR during the outbreak period.

Practical Implications : The findings indicated that the market did not perceive the outbreak as financially material, suggesting gaps in disease risk communication and investor awareness.

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Published

2025-09-30

How to Cite

Banerjee, A. (2025). Market Response to Lumpy Skin Disease: Evidence from Indian Dairy Stocks. Indian Journal of Research in Capital Markets, 12(3), 20–34. https://doi.org/10.17010/ijrcm/2025/v12i3/175892

Issue

Volume 12, Issue 3, July-September 2025

Section

Articles
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Europe PMC

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